Superannuation (Pension Increases) Act 1961 (Cth)

Superannuation (Pension Increases) Act 1961

Act No. 86 of 1961 as amended

This compilation was prepared on 5 November 2012 taking into account amendments up to Act No. 141 of 2012

The text of any of those amendments not in force on that date is appended in the Notes section

The operation of amendments that have been incorporated may be affected by application provisions that are set out in the Notes section

Prepared by the Office of Parliamentary Counsel, Canberra

Contents 1 Short title [see Note 1]........................... 2 Commencement [see Note 1]....................... 3 Interpretation................................. 4 Increases in certain pensions........................ 6 Payment of pension increases....................... 7 Application..................................

Notes An Act to provide for Increases in certain Superannuation Pensions

1 Short title [see Note 1]

This Act may be cited as the Superannuation (Pension Increases) Act 1961.

2 Commencement [see Note 1]

This Act shall come into operation on the day on which it receives the Royal Assent.

3 Interpretation

(1) In this Act, unless the contrary intention appears:

actual unit contribution, in relation to a prescribed pensioner, means the number of units of pension in respect of which pension was payable to the pensioner immediately before the commencing date.

actual unit entitlement: (a) in relation to a prescribed pensioner, not being a non‑contributory pensioner, means: (i) the number of units of pension that, at the prescribed time, was, in accordance with the scale set out in subsection (1) of section thirteen of the Superannuation Act 1922 or of that Act as amended and in force at that time, applicable to an annual salary equal to his annual salary at that time; or (ii) his actual unit contribution; whichever is the greater; and (b) in relation to a prescribed pensioner, being a non‑contributory pensioner, means: (i) the number of units of pension that was, in accordance with the scale set out in subsection (1) of section thirteen of the Superannuation Act 1922, applicable to an annual salary equal to his annual salary at the time of his retirement; or (ii) four units of pension; whichever is the less.